Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,962 shares of the restaurant operator’s stock after acquiring an additional 1,281 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.10% of Darden Restaurants worth $9,923,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DRI. D.A. Davidson & CO. lifted its holdings in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after buying an additional 21 shares in the last quarter. M&R Capital Management Inc. acquired a new position in Darden Restaurants during the 2nd quarter worth $108,000. Farmers & Merchants Investments Inc. lifted its holdings in Darden Restaurants by 255.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after buying an additional 1,022 shares in the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new position in Darden Restaurants during the 3rd quarter worth $115,000. Finally, Huntington National Bank lifted its holdings in Darden Restaurants by 4.6% during the 2nd quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 88.32% of the company’s stock.
Shares of Darden Restaurants, Inc. (DRI) opened at $82.81 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.24. Darden Restaurants, Inc. has a 1 year low of $71.01 and a 1 year high of $95.22. The company has a market cap of $10,170.00, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.81 and a beta of 0.22.
Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.99. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. research analysts expect that Darden Restaurants, Inc. will post 4.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, October 6th. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.62%.
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Several research analysts have issued reports on DRI shares. Maxim Group raised Darden Restaurants from a “hold” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $93.00 in a report on Wednesday, September 27th. ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Friday, September 22nd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $100.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $97.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $87.59.
Darden Restaurants Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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